W Co. is a Canadian controlled private corporation with active business income of $400,000 in Year 1. Capital gains recognized by the company in Year 1 totaled $50,000. W Co. will utilize a net capital loss carry-over of $30,000 on its Year 1 tax return. What is W Co.'s taxable income?

Multiple Choice

$400,000

$395,000

$435,000

$420,000